On Holding Slips 8% In Spite Of Increased Profit, Sales

(RTTNews) - Shares of sports products provider On Holding AG (ONON) are falling more than 8% Wednesday morning despite reporting improved third-quarter results.

Profit for the third quarter increased to CHF 20.63 million or CHF0.06 per share from CHF 12.99 million or CHF0.04 per share.

Sales for the quarter increased 50.4% year-on-year to CHF 328.0 million.

For the full year, On has increased its net sales outlook by CHF 25 million, to CHF 1.125 billion, representing a year-over-year growth of approximately 55% compared to 2021.

ONON is at $18.48 currently. It has traded in the range of $15.44-$55.87 in the last 1 year.